Pearson announces Investment in Nook Media

January 5, 2013 — askhabra

Pearson has made a strategic investment in NOOK Media LLC, a manufacturer of e-readers and tablets which also runs 674 college bookstores across America alongside its NOOK digital bookstore and content delivery platform. In the transaction, Pearson will invest $89.5 million in cash giving it a 5% equity stake. Following the transaction, Barnes & Noble will own approximately 78.2 percent of NOOK Media and Microsoft will own approximately 16.8 percent. Subject to certain conditions, Pearson will earn the option to purchase up to an additional five percent ownership in NOOK Media.

Will Ethridge, CEO of Pearson North America, said “Pearson and Barnes & Noble have been valued partners for decades,” and that “with this investment we have entered into a commercial agreement with NOOK Media that will allow our two companies to work closely together in […] making our content and services broadly available to students and faculty through a wide range of distribution partners.”

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